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Elevate Capital Launches $40 Million Fund II to Expand Mission of Inclusive Investing First wave of national investments is in six startups led by Black founders or CXOs across tech, life sciences, and medical devices. News provided by Share this article Share this article PORTLAND, Ore., Jan. 26, 2021 /PRNewswire/ Elevate Capital recently completed a $26.0 million first close of the Elevate Fund II to enhance its efforts to support underserved minority and women entrepreneurs with early-stage funding. With Fund II now officially launched, Elevate Capital has already lined up six investments, all of which are led by Black founders and CXOs. Investment in Fund II is led by two institutional investors: Meyer Memorial Trust and the Oregon Growth Account. Fund II has also attracted dozens of prominent investors, such as Chelsea Stoner at Battery Ventures who are participating privately. ....
Obatala Sciences, a New Orleans company that helps pharmaceutical companies bring new drugs to market faster than through conventional testing, has received an investment from an Ochsner Health-related investment group aimed at turbocharging its growth. Obatala said Thursday that it had received a major financial investment from the Healthcare Innovation Fund II, whose investors include Ochsner Health, Ochsner Lafayette General, Acadian Companies and the William C. Schumacher Family Foundation. The fund targets investments in firms that have proved their technology and are at a fast-growth stage. The amount of the investment wasn t disclosed and a spokesperson for the fund wasn t available for comment. ....